Based on Figure 1.2, shown the data statistics of bankruptcy from 2005 to 2012 from the source of Malaysia Department of Insolvency. It stated that the highest causes of bankruptcy are come from loans from 84% and the highest loan is car loans for 25%. Following causes are from the guarantor for 10% and credit card for 5%. Some 33,570 Malaysian were declared bankrupt within that period after they faced problems involving vehicle sales transactions. The second cause of bankruptcy is housing loans. Following with the third factor was problems in personal and business loans while the fourth reason was the economic condition. This shows that bankruptcy may not necessarily be affected due to the challenging economy like, non-performing loan and unemployment but also due to personal needs. Inability to pay car loans is the major contributor to the statistics followed by other loans. This is due to fact that those youth who just started working unable to commit to the large amount of the monthly car installment. And this what I thought. Please share your opinion and answer my questionnaire. Please be assured that all your information provided will be kept confidential.
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